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Alcanna Inc. Announces Redemption of 4.70% Convertible Unsecured Subordinated Debentures

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/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES/

EDMONTON, AB, May 4, 2021 /CNW/ - Alcanna Inc. (the "Company" or "Alcanna") (TSX: CLIQ) announced today that it has completed the previously announced redemption of its outstanding 4.70% convertible unsecured subordinated debentures due January 31, 2022, which are listed for trading on the Toronto Stock Exchange under the symbol "CLIQ.DB" (the "Debentures").

The redemption terms were in accordance with the provisions of the trust indenture governing the Debentures, as follows:

Redemption Date:

May 4, 2021

Redemption Price:

$1,000 per $1,000 principal amount

Accrued and Unpaid Interest:

approximately $11.98 for each $1,000 principal amount

Redemption Price plus Accrued and Unpaid Interest:

$1,011.98 for each $1,000 principal amount

The aggregate outstanding principal amount of the Debentures was $77,625,000 on the date that Alcanna announced the redemption on April 1, 2021. Alcanna satisfied its obligation to pay to the holders of Debentures the Redemption Price in cash through available funds.

About Alcanna Inc.

Alcanna is one of the largest private sector retailers of alcohol in North America and the largest in Canada by number of stores – operating in excess of 170 locations in Alberta and British Columbia. The Company's majority-owned subsidiary, Nova Cannabis Inc. (TSXV: NOVC), also operates 53 cannabis retail stores in Alberta, Ontario, and Saskatchewan. Alcanna's common shares trade on the Toronto Stock Exchange under the symbols "CLIQ". Additional information about Alcanna Inc. is available at www.sedar.com and the Company's website at www.alcanna.com.

SOURCE Alcanna Inc.

Cision
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View original content: http://www.newswire.ca/en/releases/archive/May2021/04/c1528.html